Congress has extended the date by which Paycheck Protection Program (PPP) loan applications can be made to May 31 by passing the PPP Extension Act of 2021. Prior to enactment, the application deadline for First Draw PPP loans...more
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to...more
On October 26, the Small Business Administration (SBA) published a notice in the Federal Register seeking approval from the Office of Management and Budget to release two new forms to be sent to borrowers under the Paycheck...more
11/10/2020
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Audits ,
Borrowers ,
CARES Act ,
Federal Register ,
For-Profit Corporations ,
Liquidity ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
SBA ,
U.S. Treasury
On June 3, 2020, the Senate unanimously approved H.R., 7010, the Paycheck Protection Program Flexibility Act of 2020, or Flex Act, modifying certain provisions of the CARES Act relating to loan forgiveness under the Paycheck...more
The Federal Reserve anticipates accepting applications under the Main Street Lending Programs in June and has implied recently that the rollout is imminent. On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) clarified...more